When so many major elements of the ostensibly private sector–the press, telecommunications, and oil, just to name a few (I’m not including the “defense” industry, because there’s nothing even ostensibly “private sector” about it)–are part and parcel of our security state and imperial policies, does it make sense to describe this as being even the faintest semblance of a market economy and system of private enterprise?
That is a question that really shouldn’t need asking. The US economy is not a market economy and has not been since, well, pretty much forever.
It is important to remember that every time someone blames the market, or the free market, or some other similar entity for failing that it is a corporate state economy that has failed and the corporate state economy will fail again and again except at achieving its primary objective: scraping wealth off of the backs of the rest of us.
For more details read Kevin Carson’s The Iron Fist Behind the Invisible Hand.